Brittany: The Property Market was Smiling Again in 2015

Sales are rising again last year, in the old as in the new …

After several years of crisis or stagnation, the Breton property market has finally regained colour last year. According to figures provided by Western Notaries , the sales volume has increased dramatically in 2015 in the area to return to its level before the crisis.

This is particularly the case for older homes with an increase in transactions from 17% in 2015 in the five departments of historical Brittany, Loire-Atlantique included. This improvement is also reflected in the former apartments with an increase in sales volume by 16% last year.

No soaring prices despite higher sales

With the introduction of the Pinel law, it has had a dramatic impact on the market, the sale of new apartments has also exploded with an increase of 41%. For this sector, nearly 90% of sales are concentrated in the cities of Nantes and Rennes.

Despite the sales boom, prices have remained rather stable in Brittany last year. In Ille-et-Vilaine for example, the median price of old houses, which stood at 177,800 euros, has edged up by just 1.6%.

The increase was somewhat larger in Loire-Atlantique with a median price of 200,000 euros (+ 2.6%). For old apartments, prices are down even with a 3.3% decline in Loire-Atlantique (2,410 euros per m2 on average) and 1.5% in Ille-et-Vilaine (2,250 euros per m2 on average ).